Banque Pictet & Cie SA Has $23.74 Million Stock Position in EOG Resources, Inc. (NYSE:EOG)

Banque Pictet & Cie SA cut its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,149 shares of the energy exploration company's stock after selling 15,349 shares during the quarter. Banque Pictet & Cie SA's holdings in EOG Resources were worth $23,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lee Danner & Bass Inc. bought a new stake in shares of EOG Resources during the 4th quarter valued at $28,000. Heritage Wealth Advisors lifted its position in shares of EOG Resources by 562.2% during the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock valued at $30,000 after acquiring an additional 208 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of EOG Resources during the 1st quarter valued at $34,000. Ameriflex Group Inc. bought a new stake in shares of EOG Resources during the 4th quarter valued at $36,000. Finally, 10Elms LLP bought a new stake in shares of EOG Resources during the 4th quarter valued at $44,000. 89.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays upped their target price on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Piper Sandler dropped their price objective on EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Scotiabank upgraded EOG Resources from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. UBS Group restated a "buy" rating and set a $140.00 price objective (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Finally, Raymond James Financial upped their price objective on EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a research report on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, EOG Resources currently has a consensus rating of "Hold" and an average price target of $139.00.

EOG Resources Price Performance

EOG traded up $1.35 on Friday, reaching $123.08. The stock had a trading volume of 2,215,902 shares, compared to its average volume of 3,416,102. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The firm has a 50-day moving average of $116.79 and a 200-day moving average of $121.34. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $67.17 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 9.93 and a beta of 0.76.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to analysts' expectations of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business's quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.31%. EOG Resources's dividend payout ratio is presently 36.18%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.